GLOBAL - This week's Global Dairy Trade (GDT) auction saw a further fall of 7.4 per cent in the GDT Price Index from the previous event.
This is the third event in a row that dairy prices have fallen.
The average price reached in the auction was $2,276 (USD/MT, FAS).
Whole Milk Powder saw the biggest price fall, of 10.4 per cent, whilst Skimmed Milk Powder prices fell by 2.2 per cent.
Butter prices fell by 8.3 per cent, and cheddar by 4.2 per cent.
Dairy co-operative Fonterra, which runs Global Dairy Trade, recently had to reduce its forecast payout to its dairy farmers as market conditions remain dire.
TheCattleSite News Desk